Treasurers Call for NYSE Overhaul

State Treasurers Urge Exchange
To Scrutinize Board Members
And Grasso's Retirement Pay

By

Ianthe Jeanne Dugan Staff Reporter of THE WALL STREET JOURNAL

Updated Sept. 24, 2003 11:10 a.m. ET

A group of influential state treasurers, after successfully calling for last week's ouster of New York Stock Exchange Chairman Dick Grasso, now is pushing for a sweeping overhaul of the Big Board's governance, including separating the chairman and chief executive posts and splitting off the NYSE's regulatory arm.

In a meeting Wednesday morning with some NYSE directors, the group -- including treasurers from California, New York, North Carolina, Connecticut, Oregon, Kentucky and Iowa -- called for an investigation into how...